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what it is
BWXT builds nuclear parts, fuel, and services for the Navy, plus smaller medical and research nuclear businesses.
how it gets paid
Last year Bwx Technologies made $3.2B in revenue.
why it's growing
Revenue grew 261.1% last year. Latest-quarter revenue rose 19% vs. prior year, while EPS climbed 31%.
what just happened
BWXT posted $886M in quarterly revenue and $1.01 EPS, with both revenue and profit growing fast.
At a glance
B+ balance sheet — decent shape, but not bulletproof
80/100 earnings predictability — you can trust these numbers
60.5x trailing p/e — you're paying up for this one
0.5% dividend yield — cash in your pocket every quarter
11.5% return on capital — nothing to write home about
xvary composite: 66/100 — average
What they do
BWXT builds nuclear parts, fuel, and services for the Navy, plus smaller medical and research nuclear businesses.
In 2025, 86% of sales and 90% of operating income came from U.S. Government work. That is concentration, but it is also permission: if you need naval nuclear parts, you do not switch suppliers like phone plans. Regulatory hurdles (years of approvals and security clearances) → plain English: outsiders cannot just show up and bid tomorrow → so what: BWXT keeps getting called when the work is mission-critical.
How they make money
$3.2B
annual revenue · their business grew +261.1% last year
total revenue
$3.2B
+261.1%
The products that matter
naval propulsion and nuclear components
Government operations
inside a $3.2B company
this is the core investment story: a government-facing nuclear business inside a company that generated $3.2B in revenue and grew 18.3% last year.
core engine
medical isotopes and nuclear services
Commercial operations
11.3% net margin
segment sizes are not broken out here, but this commercial work matters because it broadens a business that kept 11.3% of revenue as profit last year.
diversifier
Key numbers
$5.0B
2029 sales goal
That is the 2029 revenue estimate, up from $3.2B today, or about 56% more top line. If BWXT gets there, today's rich multiple has more business underneath it.
60.5x
trailing p/e
P/E (price-to-earnings) → how many dollars you pay for $1 of profit → so what: you are paying a premium price for a contractor with concentrated customers.
16.0%
operating margin
Operating margin → profit after running the business, before interest and taxes → so what: BWXT keeps $16 for every $100 of sales.
11.5%
return on capital
Return on capital → profit earned on the money tied up in the business → so what: decent economics, but not enough alone to explain a 60.5x multiple.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $2.0B (9% of capital)
- net profit margin 11.4% — keeps 11 cents of every dollar in revenue
- return on equity 26% — $0.26 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in BWXT 3 years ago → it's now worth $35,730.
The index would have given you $14,540.
source: institutional data · total return
What just happened
beat estimates
BWXT posted $886M in quarterly revenue and $1.01 EPS, with both revenue and profit growing fast.
Latest-quarter revenue rose 19% vs. prior year, while EPS climbed 31%. The company then pointed to 2026 revenue of about $3.8B and EPS of $4.55 to $4.70.
$886M
revenue
$1.01
eps
22.9%
gross margin
the number that mattered
The 19% revenue growth matters most because this stock already trades at 60.5x earnings. BWXT needs real growth, not just defense vibes.
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bwx technologies’ stock price has just climbed even higher.
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just when we thought things couldn’t get any better, they did.
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the equity’s price is up another 16% since our december 12th report.this is mainly thanks to the company reporting better-than-expected final-quarter results, handily surpassing wall street estimates.
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sales and share earnings were up 19% and 32%, respectively.
-
backlog grew 50%, to $7.3 billion, thanks to high-margin multi-year contracts with the u.s.
source: company earnings report, 2026
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What could go wrong
the #1 risk is u.s. government contract concentration in naval nuclear work.
med
program delay or contract loss
When a few large government customers matter, timing slips are not small hiccups. They can reset expectations fast.
A delay or non-renewal would hit a company that generated $3.2B of revenue last year.
med
multiple compression
60.5x trailing earnings and about 47.6x forward earnings leave very little room for an ordinary quarter.
The 3–5 year target midpoint is $193 versus a $216.47 price today, so some future upside is already being spent.
med
growth normalization
Last year's 18.3% revenue growth and Q4's 19% jump are strong. They also raise the bar for what counts as good enough next.
If growth cools back toward a more ordinary contractor pace, the premium valuation becomes harder to defend.
a contract hiccup would hurt twice: first through revenue on a $3.2B base, then through valuation on a stock already trading above its $193 long-range target midpoint.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next report has to look more like Q4 than like a cooldown
watch whether revenue stays near the recent high-teens pace and EPS keeps justifying the premium multiple.
valuation
earnings need to catch up to the stock price
with 60.5x trailing earnings and about 47.6x forward earnings, you want the denominator rising fast.
risk
big-contract timing matters more here than at a diversified industrial
any award delay, budget change, or renewal miss can hit a business still concentrated around government nuclear work.
flow
institutional buying is positive, but just barely
267 buyers versus 257 sellers in 4q2025 is a green light, not a stampede.
Analyst rankings
short-term outlook
top 20%
momentum score 2 — in human-speak, analysts still expect above-average price performance in the year ahead.
risk profile
average
stability score 3 — this is neither a low-volatility bunker nor a chaos stock.
chart momentum
average
technical score 3 — the chart is healthy, but not flashing some secret signal.
earnings predictability
80 / 100
management usually lands close to expectations. For a premium stock, that consistency matters.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 267 buyers vs. 257 sellers in 4q2025. total institutional holdings: 85.1M shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$108
$277
$216
current price
$193
target midpoint · 11% from current · 3-5yr high: $277
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